Monetary Matters with Jack Farley The World Is Dumping U.S. Assets | Julian Brigden
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Apr 16, 2025 
Julian Brigden, Co-Founder of MI2 Partners, is a macro analyst specializing in global financial trends. In this discussion, he reveals how recent shifts in U.S. trade policy are prompting foreign investors to offload U.S. assets and repatriate profits. He further explains how this trend, combined with a slowdown in dollar flow due to tariffs, could lead to a weaker dollar and challenges for U.S. financial markets. Brigden also delves into the implications of tariffs, potential stagflation, and the broader economic effects on both the U.S. and global markets.
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Reflexive Cycle of U.S. Assets
- The world is heavily invested in U.S. assets, creating a reflexive cycle.
- This cycle involves rising stocks, wealth effect, hyper-financialization, and a growing current account deficit.
U.S. Policy Shift
- The Trump administration seeks a lower dollar and a rebalanced trade deficit.
- This resembles past policies like those during the Nixon and Reagan eras.
Profit-Taking Advice
- Consider taking profits from U.S. stocks, especially if you're a foreign investor.
- Trillions of dollars of foreign money might be sold or hedged, impacting the market.